Page 15 - Real Estate Firms

BNP Paribas net income falls 50%, misses earnings forecast in Q4

BNP's group sales in the fourth quarter were up 0.1% to 10.9 billion euros, below the 11.4 billion-euro average analyst estimate

Aparna Constructions to invest Rs 2,425 cr in 2 new Hyderabad projects

Realty firm Aparna Constructions and Estates on Tuesday said it will invest Rs 2,425 crore to develop two housing projects in Hyderabad. The two projects will have more than 2,500 apartments, offering individual unit sizes ranging from approximately 1,475 sq. ft. to 3,700 sq. ft. In a statement, the company said it has launched "two gated community apartment projects in Hyderabad, Aparna Newlands and Aparna Sarovar Towers, with a combined investment of Rs 2,425 crore." The project -- Aparna Newlands -- will be spread over 14 acres totalling 1,976 units, while the 5-acre Aparna Sarovar Towers project will have 585 units. Aparna Constructions, a division of the Aparna Group, is one of the largest real estate developers in South India. The company was founded by S S Reddy and C V Reddy in 1996. It has a portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces across Telangana, Andhra Pradesh and Karnataka. According to a recent report

Real estate sector in the middle of a growth cycle: Motilal Oswal

Despite the price hikes, affordability improved across markets as income growth surpassed pricing growth, which should keep momentum intact in demand and pricing, the report stated

Weaker than expected bookings in Q3, valuations to weigh on Oberoi Realty

While this was up 25 per cent as compared to the year-ago quarter, it was down 18 per cent on a sequential basis despite a new launch

Jamshyd Godrej resigns as non-executive director of Godrej Properties

Realty firm Godrej Properties on Tuesday said that Jamshyd Godrej has resigned as the non-executive director with effect from January 24, having attained the age of 75 years. The effective date of resignation is January 24. In a regulatory filing, Godrej Properties informed that "Jamshyd Godrej, Non- Executive Non-Independent Director of the company has tendered his resignation from directorship of the company, having attained the age of 75 years, with effect from January 24, 2024". The Board of Directors of the company have taken note of resignation of directorship of Jamshyd Godrej, who is member of the Godrej family. "The Board of Directors places on record its appreciation for the valuable contribution, guidance and support provided by him during his association of over 33 years as the 'Director' of the company," the filing said. He has been serving as the director of the company since April 25, 1990. Mumbai-based Godrej Properties is one of the leading real estate developers

Global investments in Indian real estate sector dip due to high inflation

India's real estate market has been an attractive destination for global investors, particularly from the US, since 2006

Oberoi Realty reported 49% decline in Q3 net profit at Rs 360.15 cr

Oberoi Realty Ltd on Monday reported a 49 per cent decline in consolidated net profit to Rs 360.15 crore for the December quarter. Its net profit stood at Rs 702.57 crore in the year-ago period. The company's total income also fell to Rs 1,082.85 crore in the third quarter of the current fiscal from Rs 1,651.50 crore a year ago, according to a regulatory filing. Mumbai-based Oberoi Realty is one of the leading real estate firms in the country. In a separate filing, Oberoi Realty said it has achieved "gross bookings of Rs 882 crore during the launch of its new tower in Elysian at Oberoi Garden City, Goregaon, Mumbai".

Shapoorji Pallonji Real Estate expects Rs 600 cr from 276 luxury homes

Realty firm Shapoorji Pallonji Real Estate (SPRE) on Thursday launched 276 luxury homes in Pune with an estimated sales value of around Rs 600 crore. In a statement, the company said it has launched the second phase of its project 'Golfland' which is part of a large township 'VANAHA' near Bavdhan, West Pune. "With an estimated revenue potential of Rs 600 crore, the second phase of Golfland responds to the growing demand for upscale residences in Pune," SPRE said. The project will have 276 homes, available to buyers at prices starting at Rs 1.48 crore. In the first phase, the company had launched 276 homes. The township 'VANAHA', spread over 1,000 acres, is a mixed-use development comprising residential, commercial, and retail spaces. To date, the company has sold over 1,800 apartments in this township worth Rs 1,500 crores across mid-segment (Yahavi and Springs) and premium developments (Golfland phase 1). Nirav Dalal, Business Head and Chief Investment Officer, SPRE, said,"The

Real estate players deploy AI, plug into AR and VR tech to boost sales

"Anarock used its AI/ML proptech solution ASTRA to boost primary housing sales by up to 15 per cent," says Anuj Puri, chairman, Anarock group

Book profit in realty stocks as rally may hit valuation hurdle: Analysts

Investors holding the stocks could partially book profit; new investors should wait for correction to enter the pack

NAREDCO plans event to showcase real estate opportunities in Ayodhya

Real estate body NAREDCO on Friday said it plans to organise a builders' conference in Ayodhya to tap its commercial and residential opportunities as the holy city gears up to attract lakhs of tourists post inauguration of the Ram temple on January 22. National Real Estate Development Council (NAREDCO) National President G Hari Babu said there are opportunities to set up hotels, resorts and apartments in Ayodhya as the tourist flow would increase in the coming months. "The entire Indian real estate industry wants to look at Ayodhya ...We want to organise a conference in Ayodhya in the coming months in a big way and call a thousand builders there to showcase the commercial and residential opportunities," he told reporters. On expectations from Budget, Babu said NAREDCO has submitted a representation to the finance ministry seeking "Micro, Small and Medium Enterprises (MSME) status" for small builders and introduction of a scheme for those earning salaries up to Rs 40,000 per ...

Macrotech Developers reports 12% rise in sale bookings to Rs 3,410 cr in Q3

Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company has achieved its best ever third quarter pre-sales performance. MD & CEO Abhishek Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer's desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen." On the back of steady rise in income levels and ample job creation, this desire is translating into robust demand for high quality homes, he added. Lodha said this fundamental driver of demand has enabled the company to deliver its best ever Q3 pre-sales performance at Rs 3,410 ...

Malls registered high demand this year, trend likely to continue in 2024

Most malls that opened in 2023 had commitments even before they became operational, and were occupied soon after their opening

PE inflow in real estate declines 44% to $3 bn so far in 2023: Knight Frank

Global investors have been cautious this year to put money into Indian real estate, as private equity inflow is down 44 per cent till December 12 to USD 3 billion compared to the entire previous year, according to Knight Frank. Real estate consultant Knight Frank India on Thursday released its data showing that the Indian real estate market received USD 3,024 million in PE investments from 23 deals between January 1 and December 12 this year, as against USD 5,357 million recorded in 2022. Global geopolitical uncertainties and a high interest rate environment with multiple rate hikes from the US Federal Reserve and the Central Bank of Canada have curbed investment activities from US and Canada, the consultant said, explaining the reason behind the slump. However, PE investments from Singapore have improved significantly, contributing more than 50 per cent to the total inflow. In terms of segments of the Indian real estate market, office assets took the lead with a 58 per cent share

India at 14th spot in housing cost rise in Jul-Sep with 5.9% growth: Report

India jumped 18 places to 14th rank in home price appreciation globally in September quarter, with nearly 6 per cent price rise year-on-year, according to Knight Frank India. Real estate consultant Knight Frank's Global House Price Index tracks nominal and real price growth across 56 countries in local currencies. Turkiye is at number one position with an annual 89.2 per cent appreciation, followed by Croatia (13.7 per cent), Greece 11.9 per cent, Colombia 11.2 per cent and North Macedonia 11 per cent. "Annual global house prices continue to rise despite central banks' efforts to combat inflation through higher interest rates. Average annual price growth stands at 3.5 per cent, closely approaching the pre-pandemic ten-year average of 3.7 per cent," Knight Frank said. Among the 56 markets monitored, 35 experienced annual price growth, while 21 witnessed price decline. "India climbed 18 spots to 14th rank in the global house price index in Q3 2023. The price increase of 5.9 per cent

Poonawalla HF gets a new name, rebrands as Grihum Housing Finance

The global private equity firm -- TPG acquired a 99.02 per cent equity stake in the company, taking over from Poonawalla Fincorp earlier this year

Godrej eyes Rs 3,000 cr revenue from new luxury housing project in Gurugram

Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties. The company will develop nearly 750 apartments in a 9.5-acre housing project 'Godrej Aristocrat' located at Sector 49 in Gurugram. The starting price is around Rs 4 crore per unit. According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs. Market sources said the company is expecting to generate revenue of around Rs 3,000 crore from this project. Real estate consultant Anarock Vice Chairman Santhosh Kumar said the Gurugram housing market remains buoyant despite a sharp appreciation in prices. In March, DLF Ltd sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within three days. Proper

Realty sector's inventory surges to over Rs 1 trn, outpacing sales growth

This analysis is based on a common sample of 19 listed real estate companies that are part of the BSE500, BSE Midcap, and BSE Smallcap indices

'Indian real estate most preferred in Asia-Pacific for global investors'

Colliers data also shows institutional investment in real estate soared 27 per cent year-on-year in the first nine months of 2023

Bhutani Infra sells all retail units in Noida project in 12 hours of launch

Luxury realtor Bhutani Infra on Monday said all retail spaces in its new project Avenue 133 -- a mall in Noida Sector 133 -- were sold out within 12 hours of its launch. Industry sources said the sale of retail space in phase one of Avenue 133 has fetched over Rs 1,000 crore for the real estate developer, with price ranging from Rs 24,000 sq ft to Rs 40,000 sq ft. The second phase of the project is scheduled for sale next year and the group is eyeing revenue upwards of Rs 1,500 crore from it, a source close to the realty group told PTI. "Avenue 133 is one of the fastest selling assets. Our last record stood at three weeks. This time it has been less than 12 hours," Bhutani told PTI. However, he declined to share details about units sold or revenue earned. About the pace of sale, Bhutani said the speed is not surprising for Noida, which has become the point of focus in the industry now. "The plus point with this project is that it has filled a void for a good, major commercial pro